Though martial arts instruction is normally a safe, healthy way to teach physical fitness, coordination, discipline, self-defense, and confidence, accidents can happen in your studio or school. Small businesses usually don’t have the resources to cover injury claims or lawsuits that may result from accidents or injuries in the studio, which makes martial arts insurance essential for schools of any size. Martial arts insurance packages include standard options such as liability and accident insurance as well as options for other business coverage.
Most standard accident coverage for your dojo would include medical benefits. Medical expenses such as x-rays, examinations, surgeries, dental work, emergency care, and even rehab may be reimbursed if they are related to a covered accident that occurred in your studio. Usually, medical expense coverage is in addition to other coverage, which means a plan would not cover expenses paid by an individual’s personal medical plan.
Accident insurance for your martial arts school may also include a death or dismemberment benefit. In the unlikely event tragedy occurs in your school, grieving families or individuals who experience dismemberment, quadriplegia, loss of hearing or vision, or other catastrophic injuries may be paid a lump sum or aggregate settlement.
Liability coverage is what protects you and your business during a lawsuit or when property is damaged. Suits that include property damage, injury, or death are covered by the insurance policy, which means if a settlement is reached or court decision decided against you, the policy covers payments up to the maximum policy amount. The policy usually also covers legal expenses.
You can add optional coverage to a policy to meet the needs of your business. Insure your equipment, purchase additional liability coverage, or opt for insurance that protects you in case of sexual abuse charges. Other insurance options include tournament and camp coverage, extra medical benefits, automobile coverage, and coverage for independent contractors.